On Nov. 15, POL GVT consulted on draft reg re submission exemption.
POL GVT consulted on draft regulation 921 regarding the exemption from the obligation to submit data from the register of fixed assets and intangible assets subject to submission under the Corporate Income Tax Act (CIT Act).
Follows POL GVT Aug. 2024, issued rules for CIT accounting documentation, #223843.
Purpose
Introduction of legal exemptions from the obligation to send part of the accounting books pursuant to art 9, s 1c, of the CIT Act, to the head of the competent tax office.
Taxpayers and companies that are not legal persons are exempt from the obligation to submit electronic data from the register of fixed and intangible assets and legal rights.
For the tax year starting after Dec. 31, 2024, and before Jan. 1, 2026; re non-legal person companies, for the year starting after Dec. 31, 2024 and before Jan. 1, 2026.
The regulation is planned to enter into force on Jan. 1, 2025.
Effectiveness
Comments from targeted bodies must be submitted in 7 days, by Nov. 22, 2024.
Dec. 2024 Regulation Published
On Dec. 16, 2024, POL GVT issued Regulation of Minister of Finance of Dec. 13, 2024.
Re exemption from obligation to send part of accounting records under Corporate Income Tax Act, based on art 9 section 5 item 2 of Corporate Income Tax Act 1992.
Taxpayers other than those in art 9 S1d of Corporate Income Tax Act and companies that are not legal persons are exempted from sending data from register of fixed assets and intangible assets to appropriate head of tax office using electronic means.
Re tax year starting after Dec. 31, 2024 and before Jan. 1, 2026; Reg in force Jan. 1.
